Your Guide to MBE Certification
You must meet specified criteria for formal recognition as a minority business enterprise, even if you run a minority-owned business (MBE). Receiving an MBE designation has business benefits if you meet the requirements. So, what exactly is an MBE and what does an MBE certification entail? The MBE certification and minority-owned enterprises MBE denotes that the major owner of a business is a member of the minority group. A business must be legally designated as minority-owned to apply for and get a minority-owned business certificate. So, what precisely does that imply? The term "minority-owned business" has a legal definition. The company must meet the following standards to qualify and register as a minority-owned business: Be owned and run by a U.S. citizen from one of the recognized U.S. minority groups at least 51 percent of the time. Minority ownership members should be in charge of day-to-day operations and management. Be a for-profit company with a physical presenc